Owner: Vietnam real estate news URL:http://vietnam-realestate.blogspot.com/ Join Date: Mon, 13 Aug 2007 03:30:15 -0500 Rating:0 Site Description: Vietnam real estate news Site statistics:Click here
Singapore's CapitaLand to invest 47.7 mln sgd in Vietnam 2007-08-11 17:52:00 SINGAPORE (Thomson Financial) - Southeast Asia's biggest property developer CapitaLand said Friday it has, through unit CapitaLand (Vietnam
) Holdings, entered into a conditional joint venture agreement with an affiliate of Vietnam's Azure City Co, to develop a residential site in Ho Chi Minh City .CapitaLand said it will inject 47.7 million Singapore
dollars for a 75 percent stake in the joint venture company.
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FI keeps flowing into Vietnam 2007-08-09 17:48:00 Two more real estate and tourism projects by VinaCapital and the American KOR Group, with capital totalling US$525 million, will be launched in the central city of Da Nang.The city authority on August 2 officially approved the VinaCapital Fund to invest in the construction of the VinaCapital Square Urban Area in An Bac Hai Precinct, Son Tra Peninsula, with $325 million in capital, according to the People´s Committee office in Da Nang.
Read more:Vietnam
, keeps
Singapore tops list of ASEAN investors in Vietnam 2007-08-08 05:05:00 The city state, according to the latest statistics from the Department of Foreign Investment, has over the first seven months of this year pumped over 1.3 billion USD into 44 projects in Vietnam
, coming in at second among 39 countries and territories investing in Vietnam over the period.An official from the Singapore
an General Consulate in Ho Chi Minh City said that Singapore's experience in housing was due to his country's limited land acreage. According to the Department of Foreign Investment, the Vietnam-Singapore Industrial Zone Joint Venture and the Nasteelvina Company - a joint venture in steel production - are some of Singapore's bigger projects that are already reaping heavy benefits for the investor and the host country alike.
Read more:ASEAN
Domestic consortium forms real estate firm 2007-08-05 18:44:00 A consortium of State-owned and private enterprises has launched a new real estate development company with a chartered capital of VND 1 trillion (US $62.5 million).The Lilama Land Joint Stock Co was co-founded by the Vietnam Construction and Machinery Installation Corporation (Lilama), Vietnam National Tobacco Corporation (Vinataba), Hanoi Beer, Alcohol and Beverage Corporation (Habeco), Tan Long Ltd Co, the Vietnam National Construction Consultants Group, and the Hanoi Building Commercial Joint Stock Bank (Habubank).The firm will focus on major real estate projects such as new urban areas, shopping centres, high-rise offices and apartments, and industrial and economic zones, as well as offering consulting services.
Read more:Domestic
New real estate fever not likely 2007-08-03 19:59:00 VietNamNet Bridge – Nguyen Manh Ha, Head of the House Management Department of the Ministry of Construction (MoC) brushed aside fears that real estate prices would skyrocket if a plan that permits foreigners to buy homes in the country by 2008 wins government approval. Under the plan foreign nationals will only be permitted to purchase one home that may be sold, gifted, mortgaged, or left in inheritance but will not be permitted to lease the property.
Read more:likely
Billions coming in, but who knows for sure? 2007-08-01 23:46:00 While the Ministry of Planning and Investment (MPI) joyfully announced the monthly inflow of foreign direct investment (FDI) into Vietnam, the State Bank of Vietnam (SBV) has nearly ‘blockaded’ all information about the Foreign Institutional Investment (FII) flow. According to statistics of the foreign bank which is managing the largest number of accounts for financial investment institutions, there are around 74 foreign investment funds pouring money into Vietnam, including 22 funds that have been established so far this year. Among new funds are Sumitomo Misui Vietnam, Fullerton Vietnam Fund, TongYang Vietnam, Maxford Growth Vietnam Focus, Vietnam Resource, Credit Agricole Fund.
Read more:Billions
A US$65 million luxury hotel complex broke ground in the Hanoi suburbs Saturday 2007-07-30 22:50:00 The 21-storey, 363-room Crown Plaza will share a 13,000 sq.m plot in Tu Liem district near the National Sport Complex with a 20-storey office block and a 14-storey apartment tower.The complex is set to open in 2009, according to Tran Hong Quan Company, the project’s main investor.The developer said the Crown Plaza was designed to international standards and would meet the Vietnam National Administration of Tourism’s five-start hotel criteria.It would be managed by the Intercontinental Hotels Group.The construction of the Crown Plaza is one of several major high-end hotel projects slated for Hanoi
in the year’s second half. In total, the hotel projects are worth over $1.17 billion.
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, broke
, ground
, Saturday
US investment funds still interested in Vietnam 2007-07-28 18:01:00 Though Merril Lynch, the US’s financial management giant, has been pulling out of the Vietnam
ese market and issued a report earlier this month indicating the market was no longer attractive, several US investment
funds have remained optimistic.At a recent seminar, James Riedel, senior consultant of the STAR Vietnam project, which supports the implementation of the Vietnam-US Bilateral Trade Agreement, said nearly half of portfolios in Vietnam are from the US.He forecast the sum to rise in the near future as an influx of large banking-finance groups from the US hits the country.US International Data Group (IDG) Ventures Vietnam – a pioneer local venture capital fund – has recently invested in Vega Software Joint Stock Company and Goldsun Focus Media, leading firms in e-advertisement and software development.
Local firms taking bigger piece of real estate pie 2007-07-26 17:32:00 VietNamNet Bridge - Viet Nam’s high-end residential and commercial property developments that were once the exclusive domain of multinational developers are now witnessing the increasing emergence of local firms
that are claiming a larger stake in one of the world’s fastest growing markets.
Read more:Local
, piece
Funding house purchasing deals, good business for banks 2007-07-24 17:11:00 Many people have become disappointed when hearing about the interest rate policies applied by the banks
. They said that the interest rates proved to be too high. Only those who have high incomes and want to buy luxurious apartments and houses can afford such high interest rates. Dau Ngoc Tinh, a staff of a garment company, related he needed to prove that he had the income of VND20mil a month to get the loan of VND200mil ($1,250) with the interest rate of 1.1% per month. Every month, he will have to pay VND6mil ($375) in both principal and interest. However, his actual income is VND10mil per month, and he only can borrow money with the interest rate of 1.15%.
Read more:Funding
Online real estate trading is set to launch in Vietnam on July 22 2007-07-22 18:57:00 The online exchange, www.sanbatdongsan.net.vn, will allow buyers and sellers to access the market directly, said the ministry, adding that people will be able to buy quality houses without paying intermediary charges.The ministry has stipulated that enterprises that provide incorrect or false information on the site could be suspended from the trading floor and even fined or jailed in serious cases.
Read more:Vietnam
Vietnam to increase state-owned property prices 2007-07-20 19:07:00 The government has given initial approval to a construction ministry proposal to increase state-owned residential property
prices nearly fourfold, citing higher real-estate values and salaries.
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Burgeoning time for high-end property projects 2007-07-18 20:57:00 VietNamNet Bridge – Experts have forecast property
projects in major cities and provinces will continue to be attractive to foreign investors in the next few years.The burgeoning high-end property market and the Government's policy allowing foreigners to own houses in the country are promising a brighter outlook. A survey by the HCMC-based property management firm VietRees indicates more than US$8bil in foreign direct investment has been pledged in property projects implemented between 2004 and 2010. South Korea ranks first, followed by Singapore, Malaysia, Hong Kong and Taiwan.
Danang’s largest domestic investor puts $180 mln into real estate 2007-07-16 18:57:00 Hoang Anh Gia Lai Corp. plans to invest $150 million to build a waterfront hotel-apartment-office-shopping-complex along the Han River in Hai Chau district.Work on building the complex is scheduled to start early next year and finish in 2010.The corporation, headquartered in the Central Highlands province of Gia Lai, will also build an estimated $30 million worth of high-end apartments for sale in Thanh Khe district.
Central Vietnam deluxe beach resort 2007-07-15 01:47:00 Construction of the four-star Novotel Imperial Hoi An resort began Wednesday in at a cost of VND280 billion (US$17.3 million).Located near Hoi An town’s Cua Dai beach, the resort will have 200 rooms, restaurants and bars, tennis courts, a spa, and swimming pool. Hotel group Accor will manage the 4.3ha property owned by the IOC Supporting Services and Investment Development Joint Stock Company. GP Bank, Chi Linh Start Golf JSC, and Ocean Bank are also key shareholders.
Read more:Vietnam
, Central
Vietnam plans to sell houses to foreigners 2007-07-12 17:13:00 The eligible groups include foreigners
directly doing business in Vietnam
in accordance with the law, foreigners recognized by the president and other relevant agencies as contributing to national development, foreign culturists and scientists working in Vietnam, foreigners recognized by the president as honorary citizens, foreigners married to Vietnamese currently living in Vietnam, and foreign-invested real estate trading enterprises operating in Vietnam.
Read more:plans
, houses
Hong Kong enterprises are eyeing Vietnam for investment opportunities 2007-07-08 19:30:00 In Hanoi, the delegation met with Vietnam
Prime Minister Nguyen Tan Dung, who said overseas investment
was an integral component of Vietnam’s economic development and his government would provide favorable conditions for Hong Kong
investors, particularly in the financial, banking, insurance, securities, shipping and manufacturing sectors.
Viet Nam infrastructure fund lists in London 2007-07-07 15:12:00 London — Vietnam Infrastructure Limited, a US$402 million closed-end fund dedicated to investment in Viet Nam’s rapidly growing infrastructure sector, has become the first of its kind in Viet Nam to list on the Alternative Investment Market (AIM) of the London Stock Exchange.
Long-term mortgages open vietnam property market 2007-07-02 16:58:00 VietNamNet Bridge – Banks are beginning to widen the time frame on home loan deals from 10-15 years to as long as 30 years as the market matures and consumer incomes rise.
Read more:property
Real estate experts have predicted a decrease in the prices of leased office space in Ho Chi Minh City 2007-07-01 16:55:00 Representatives of the Maastricht University-affiliated Vietnam Research Programme and Holland enterprises that are already present in Vietnam shared their business experiences in the Southeast Asian country. Vietnam, they said, is a developing country that needs a great amount of capital and is home to many business opportunities for foreign enterprises.
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US businesses are taking the lead in the new wave of investment into Vietnam 2007-06-28 19:41:00 Mr. Loc said that up to 150 Vietnam
ese companies accompanied the President to the US and this was a message showing Vietnam’s desire to strengthen economic relations with the US. The visit is hoped will contribute to promote the investment
wave of the US into Vietnam. That’s why the Vietnamese mission spent a lot of time meeting with American CEOs and groups.
Read more:businesses
Vietnam's real estate construction boom 2007-06-27 01:44:00 Rising affluence in Vietnam
has led to an increasing demand for residential and commercial infrastructure. And this is fuelling a boom in its construction and real estate industry.
Malaysia property firm to pump $964 mln into Vietnam 2007-08-15 19:25:00 Under the deal signed Tuesday, Gamuda Land plans to pump $711 million of the sum into developing a 327ha-complex in Hoang Mai and Thanh Tri districts.The urban complex would be home to high-end hotels, a convention hall, office towers, shopping malls, car parks, villas and apartments for both sale and rent.Gamuda would also build Yen So Park, which would include an educational-cultural center, a plaza and other international-standard recreation facilities.
Read more:Malaysia
, property
, Vietnam
Nearly US$40 billion to enter Vietnam 2007-08-13 18:55:00 Real estate and tourism projects account for over $16 billion
, equivalent to 40.2% of the total amount of foreign capital that will come to Vietnam
. Notably, Chinese investors have expressed interest in building five big works in the fields of thermo power and real estate. During President Nguyen Minh Triet’s visit to the US last May, the two sides signed memorandums of understanding on these five projects.
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, enter
Foreigners can’t buy houses in Vietnam now 2007-08-19 20:16:00 The pilot scheme allowing foreigners to buy houses
in Vietnam
will need more time before it is implemented because the Land and Housing Law doesn’t permit foreigners to own land and houses in Vietnam. Last July the Ministry of Construction submitted to the government a scheme on permitting foreigners to buy houses in Vietnam on a trial basis. If this scheme had been implemented, around 21,000 foreigners who are living in working in Vietnam would have been eligible to buy houses.
Record growth in Vietnam visitor arrivals, hotel occupancy and room rates 2007-08-17 17:39:00 The survey shows that hotel developers and operators are now showing renewed interest in the market in the five-star hotel, resort and spa sectors. Such groups include Kingdom Hotels with the Raffles, 4 Seasons and Movenpick brands, Banyan Tree, Colony Resorts and Intercontinental.With the huge volume of money being channeled into investment funds focused on real estate investment in Vietnam
, a number of sales of interest in major hotel properties that took place in the last two years included the Hilton, Sofitel Metropole and Guoman in Hanoi, the Duxton and Omni in HCM City, and the Furama in Da Nang.
Read more:Record
Vietnam : Cat Ba resort project seeks investors 2007-08-23 17:33:00 We suggest two major types of investment: Either 100% foreign capital or the establishment of a joint-venture company between Viet Nam Construction and Import and Export Corporation (Vinaconex) and investors.Investors will have the benefit of several incentives. These include exemption from land-use fees; land-use tax and a five-year exemption from corporate tax. We are committed to ensuring that investors will pay the lowest initial investment cost against all other real-estate and tourism projects in Vietnam
. This is because the Government and local authorities consider the project of great importance to Vietnam's tourism industry.
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